Official Insurance Thread

[GCguy2169]

Before I deplyed I have a 1998 Oldsmoble Cutlass. Over the course of 2 years I had gotten 5 tickets! 78 in a 65, 93 in a 65, accident, 53 in a 35, and finally 87 in a 65 that got my license stripped for 6 months. Man that sucked. I cannot help it, I love speed. Since then I've totally slowed down and havent had a ticket in 2 years, (good for me). Speeding is not worth it. Theres times for fun, and I just didnt pay attention, I thought that I would never get caught so many times. Nope. I was paying $328 per month for car insurance. Then it went down in about 6 months to about $280 and stayed there. The only relief I could get was to pay off the car and get bare minimum insuance, still cost me $150 per month. Be a smart speeder, if there is such a thing!!! I wasnt!

BTW...all cleared now off record

[Speedy1975]

I called my ins agent last week to check and get an idea of what ins may be. I told him to quote me a 2008 Z06 Vette as I figure that'd be worst case scenario. I was quoted $450 every 6 mos with $1000 deductible. I'm 32 and a clean record multi car discount, house etc.

I figure the Camaro will be cheaper than that which is awesome to me. You guys paying $1800 a year for ins WOW. Makes me glad I'm a little older.

[GCguy2169]

yeah, but the things is that when I get ins. I try to get the lowest deductible I can. That raises the payment, but saves you from dishing out that $1,000 for repairs in the case you didnt have it.

[str8himalaya]

Originally Posted by GCguy2169

yeah, but the things is that when I get ins. I try to get the lowest deductible I can. That raises the payment, but saves you from dishing out that $1,000 for repairs in the case you didnt have it.

I have a 250 deductable, and i pay 1160 per year on my GTP. Thats with a supercharged car and i'm 22. Wonder why others are so high?

[Jiu Jitsu Jon]

Around 1200 a year for my 05 GTO, and I'm almost 33. Had one accident five or six years ago and one ticket two years ago.

[Speedy1975]

Originally Posted by GCguy2169

yeah, but the things is that when I get ins. I try to get the lowest deductible I can. That raises the payment, but saves you from dishing out that $1,000 for repairs in the case you didnt have it.

To each their own, but ......

You're chances of using the insurance are lower than the amount you'd save with the higher deductible. It's something I learned a while back looking at finance efficiency and budgeting and something Dave Ramsey teaches in his seminars as well.

Right after I learned about it I changed all my ded's to $1000. Take the money you save on the insurance drop it into a saving account drawing interest and make money on top of the savings. Otherwise at the end of the 6 mos or 1 year ins term, you've paid a higher deductible and if claim free you've thrown money away. Also, in a fender bender the repairs are likely less than $1000 so you're less likely to use your ins in turn keeping your rates lower in the long term.

[rolnslo]

Originally Posted by Speedy1975

Also, in a fender bender the repairs are likely less than $1000 so you're less likely to use your ins in turn keeping your rates lower in the long term.

Not trying to dispute your information but the last 5 fender benders I've been the recipient of have all cost the other guys between $2k and $3k to get my vehicles fixed. These were minor too - no major damage, usually just a single slightly crunched body panel and maybe a bumper.

As far as choosing a higher deductible to save money in premiums, sure that works well, as long as you don't cause accidents. If you're an accident magnet like I am and don't cause the accident, then yes, I'd save money. However, I carry a $250 deductible since the first person to ever hit my car wasn't insured and I had to pay the deductible to get my car fixed. The insurance company went after the guy for their portion.

Doing a quick policy change quote, switching from a $250 deductible to $1000 deductible takes my annual premium ('97 C1500 & '04 Expedition) from $1092/yr to $988/yr. A savings of $104/yr.

[diddiyo]

Originally Posted by str8himalaya

Thats with a supercharged car and i'm 22. Wonder why others are so high?

You live in Indiana, that's the difference. When I lived in KS I payed less than $200 for 6 months. Now I'm in FL and I'm paying about 600 for six months... and that's without collision btw!

Welcome to Miami, the city with the worst/rudest drivers.

[Speedy1975]

Originally Posted by rolnslo

However, I carry a $250 deductible since the first person to ever hit my car wasn't insured and I had to pay the deductible to get my car fixed. The insurance company went after the guy for their portion.

Doing a quick policy change quote, switching from a $250 deductible to $1000 deductible takes my annual premium ('97 C1500 & '04 Expedition) from $1092/yr to $988/yr. A savings of $104/yr.

Wierd, my uninsured motorist doesn't have a deductible. It's fully covered but that's State Farm, not sure about others.

$104 is a decent amount of money to me. I have 3 cars and a motorcycle so that adds up quick. It seems like mine was a little more than that though maybe $200 for the year on each vehicle and like $250 on the bike.

At any rate, the real piece of good info from this is that a 2008 Z06 would only be $900 a year for me to insure. That's awesome as the SS Camaro would HAVE to be less than that.

[GCguy2169]

Originally Posted by rolnslo

Not trying to dispute your information but the last 5 fender benders I've been the recipient of have all cost the other guys between $2k and $3k to get my vehicles fixed. These were minor too - no major damage, usually just a single slightly crunched body panel and maybe a bumper.

True that...cars are so expensive to repair now....dealerships/bodyshops try to make every dime they can off you. Its kind of a shady business. Say you hit some one in the rear end at a rolling 5-10mph, you crunch in the bumper on the other persons car, well you THINK you are paying for a bumper/paint, etc, but find out OMG the frame is bent, blah blah blah...seen it happen...a simple $800-1000 repair just turned into thousands upon thousands...the frame was probably perfectly fine...its sad...protect yourself from crap like this!!!

[rolnslo]

Originally Posted by Speedy1975

At any rate, the real piece of good info from this is that a 2008 Z06 would only be $900 a year for me to insure. That's awesome as the SS Camaro would HAVE to be less than that.

I ran through the quote thing for my policy with Geico. Based on what I can tell, if I were to get an SS, it would be around $800/yr for full coverage 100/300 + 25k uninsured + comp/collision + rental reimbursement with a $250 deductible.

2008 Corvette Z06: $853.80/yr
2008 Charger SRT8: $798.60/yr (System doesn't recognize the Challenger VIN's yet.)
2008 Mustang GT Premium: $752.60/yr

[Speedy1975]

Originally Posted by rolnslo

I ran through the quote thing for my policy with Geico. Based on what I can tell, if I were to get an SS, it would be around $800/yr for full coverage 100/300 + 25k uninsured + comp/collision + rental reimbursement with a $250 deductible.

2008 Corvette Z06: $853.80/yr
2008 Charger SRT8: $798.60/yr (System doesn't recognize the Challenger VIN's yet.)
2008 Mustang GT Premium: $752.60/yr

Not bad at all. You don't say how old you are, but I assume older than 25 to get low rates like that. I have to go with State Farm as they're the only company I've found that doesn't rape me on my 1000RR sport bike. It's about $700 a year to insure it where as it was $2500 - $5000 yr at other places. Yes, that's not a typo, Progressive wanted $5000 a year for the bike. Motorcycle experts my ass.

[rolnslo]

I'm 33. No tickets, no accidents that were my fault. I left Progressive and switched to Geico when my premium went up 20% and no one there could tell me why.

[fad1]

well I'm 18 years old and I got a quote for a stang Gt which a a comparison to a v6 camaro and it cost me 700$ for every 6 months